Elliott waves crypto analysis – We’re short towards 390.00

ETH –

Wave Analysis

After breaking below 460.35, Ethereum corrected itself perfectly to the same level but could not break above it again. We expect the rebound from this level to have marked the end to any further corrections to the upperside, that the current bearish price rally is the continuation of the impulsive wave (v) to the lowerside with the first take profit at 390.00. This downward rally is highly anticipated since the price is still within the falling channel formation, and as we said, while the price is within this shape, we expect a rally to the lowerside.